Nirgunan Tiruchelvam Head of Consumers Equity Research
September 17 2019
Palm oil prices: A beacon of light in the Singapore haze
Global oil prices have surged after the attack on the Saudi Arabian oil facilities on Saturday. There are grave concerns about the viability of Saudi oil supply.
Meanwhile, Singapore and other ASEAN cities are shrouded in a dark haze. Forest fires from Indonesia have driven the Pollutant Standards Index (PSI) to the worst level in three years. The forest fires are allegedly caused by Indonesian palm oil planters burning rain forests to increase production.
The haze has directed the world's attention to the other oil – palm oil. Palm oil is the cheapest form of edible oil. It is used principally as a source of cooking oil...
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